Castec Korea Co.,Ltd announced that it expects to receive KRW 15 billion in funding from KB Securities Co.,Ltd, NongHyup Bank, Orion Capital Management, CAPE Investment & Securities Co.,Ltd.
June 06, 2017
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CASTEC KOREA Co., Ltd. (KOSDAQ:A071850) announced a private placement of 2nd series unregistered and unsecured private convertible bonds for gross proceeds of KRW 15,000,000,000 on June 7, 2017. The transaction included participation from NongHyup Bank for KRW 5,000,000,000, Synergic partners corporation for KRW 5,000,000,000, KB Securities Co.,Ltd for KRW 3,500,000,000, Orion Capital Management for KRW 500,000,000, and CAPE Investment & Securities Co.,Ltd. for KRW 1,000,000,000. The bonds will not have any coupon rate and yield to maturity and will mature on June 9, 2022. The bonds can be 100% converted into common shares of the company at a fixed conversion price of KRW 5,618 per share. The shares are subject to a lock up period of one year.
CASTEC KOREA CO.,LTD is a Korea-based company principally engaged in the manufacture and distribution of automobile parts. The Companyâs products portfolio consists of turbo charger system parts, such as turbine housings and center housings, air conditioner compressor parts, electrical parts, such as scroll and rotary parts, cylinders, main bearings, cranks shafts and others, automotive parts, pump and motor parts, as well as other automobile parts, such as braking disks, caliper housing, knuckles and others. It distributes its products within domestic market and to overseas markets.
Castec Korea Co.,Ltd announced that it expects to receive KRW 15 billion in funding from KB Securities Co.,Ltd, NongHyup Bank, Orion Capital Management, CAPE Investment & Securities Co.,Ltd.
CASTEC KOREA CO.,LTD 
